Falling hot rolled coil prices in China prompted mills to restock. The decrease in HRC inventory detected in the week of March 20 slowed down a little more in the week of March 27.
Declining HRC demands also lowered HRC prices.
HRC offers from some mills in the country averaged $627-630/ton FOB, down $10/ton week on week.
Rebar and steel, whose shipment speed has slowed due to bad weather conditions in eastern and southern China, is expected to return to normal this week.
However, with the economic recovery of construction sites in North China in the near future, the demand for the products is expected to increase.
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